English Deutsch Français Italiano Español Português 繁體中文 Bahasa Indonesia Tiếng Việt ภาษาไทย
All categories

If he is able to show that all the monies in the joint account belong to the deceased.

2007-05-23 00:31:05 · 4 answers · asked by Nick 1 in Politics & Government Law & Ethics

4 answers

That would depend on how the account was set up. In the standard joint account where either party can sign, monies on deposit are held jointly and severally and the survivor is entitled to all the funds.

If the account was set up whereby both parties had to sign to withdraw funds, the estate would have a legitimate claim on half the funds. This is an example of funds being held "in Common".

A "testator" is in fact a person who dies leaving a will. Ergo, the testator by definition cannot claim anything as he is deceased. The executor would be the one to initiate the claim..... just figured I'd clear that up.

2007-05-23 00:43:25 · answer #1 · answered by Jack 6 · 0 0

maybe you can help me out here - how is a testator in any shape or form involved with a deceased person?
a testator, by definition simply is a person that has a will which specifies what is to be done with HIS property after death. with that said anybody could be a testator. now as to the deceased - since anybody could be a testator and there is no relation to be had - it would lead to a person dying leaving a joint account. keyword here is JOINT. so a testator would be able to take the money out and close the account no questions asked.
maybe you don't use 5 dollar words and explain your question.

2007-05-23 00:43:02 · answer #2 · answered by jandrkeller 4 · 0 1

As regards to joint accounts, the determining factor is not the will but rather the agreement with the bank. If the account is set up as Joint Tenants With Right of Survival, the account passes by operation of law. If the account is set up as a tenants in common account, half of the date of death balance would be subject to the will.

It does not matter the source of the funds.

2007-05-23 00:35:25 · answer #3 · answered by Mark 7 · 1 0

He may claim that portion of the monies that the executor and the probate court have ruled are funds the estate posesses.

He may appeal the ruling if he disagrees.

2007-05-23 00:34:30 · answer #4 · answered by wizjp 7 · 0 0

fedest.com, questions and answers